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Instructor
Bob Churilla
Those attending the webinar will be given a broad overview of 529 Savings Plans and how they can benefit employees from experiencing financial distress. The presentation will start with an overview of 529 Savings Plans. This will include the definition and purpose of these plans as well as the difference between prepaid tuition and college savings plans. Afterwards, there will be a discussion of tax benefits. This section will go over federal and state tax benefits and tax free growth and tax free withdrawals for qualified expenses.
Other important areas covered will be qualified expenses, contribution limits and investment options for the plan. In the qualified expenses part of the program, we will talk about tuition, fees, books and room and board as part of these expenses. Recent changes regarding K-12 education and student loan repayments will also be gone over. In the contribution limits section, we look at limits and gift tax implications. There will also be an explanation of state specific contribution limits and benefits. In addition, there will also be an overview of investment options for use in 529 Plans.
Other sections that round out the webinar are state specific plans, changing beneficiaries, using 529 funds and common misconceptions about 529 Plans. It is important to research state specific plans on benefits so they can be compared. A study of how to change beneficiaries will be explored and the implications it holds. In dealing with the use of 529 funds, how to withdraw funds for educational purposes will be considered. There will be tips on managing withdrawals to maximize tax benefits. Finally, we will review some common misconceptions about 529 Plans.
Employers can ease the financial burdens on their employees. This can be done using 529 Savings Plans. In this webinar, employers and employees can learn how to take advantage of federal and state tax benefits provided to help with the costs of living. Participants will learn important information on how to use this plan. This will include what constitutes as qualified expenses, contribution limits, investment options that can be used for 529 Plans, how to change Plan beneficiaries and the use of 529 funds.
Those attending the webinar will gain the skills necessary to manage 529 Plans. This will help employees maximize the benefits that come from having such a plan. The training will prevent making mistakes in using the Plan and provide information that will show how to navigate the requirements of the Savings Plan successfully.